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Global Cognitive Collaboration Market – Industry Trends and Forecast to 2029

ICT

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Global Cognitive Collaboration Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • Sep 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Cognitive Collaboration Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 9.66 USD Billion
Diagram Market Size (Forecast Year) USD 36.81 USD Billion
Diagram CAGR %

Major Markets Players

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Global Cognitive Collaboration Market, By Component (Solutions, Services), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Deployment Mode (Cloud, On-Premises), Application Area (Data Analytics, Facial Recognition, Social Media Assistance), Vertical (IT and Telecom, Energy and Utilities, Banking, Financial Services, and Insurance (BFSI), Education, Healthcare, Retail, Others) – Industry Trends and Forecast to 2029.

Cognitive Collaboration Market

Cognitive Collaboration Market Analysis and Size

The market's promising growth prospects can be attributed to the evolution of the modern workplace and the growing need to incorporate effective team collaboration methods across organisations. COVID- 19 restrictions and lockdowns forced businesses around the world to implement the remote working model, increasing demand for cognitive collaboration for virtual communication.

Data Bridge Market Research analyses that the cognitive collaboration market was valued at USD 9.66 billion in 2021 and is expected to reach the value of USD 36.81 billion by 2029, at a CAGR of 18.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Cognitive Collaboration Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD billion, Volumes in Units, Pricing in USD

Segments Covered

Component (Solutions, Services), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Deployment Mode (Cloud, On-Premises), Application Area (Data Analytics, Facial Recognition, Social Media Assistance), Vertical (IT and Telecom, Energy and Utilities, Banking, Financial Services, and Insurance (BFSI), Education, Healthcare, Retail, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Ribbon Communications Operating Company, Inc. (U.S), AudioCodes Ltd. (Israel), ADTRAN (U.S), Avaya Inc. (U.S), Cisco Systems, Inc. (U.S), GENBAND, Inc. (U.S), Ingate Systems AB (Sweden), Oracle (U.S), Patton Electronics Co. (U.S), Anixter Inc. (U.S), Huawei Technologies Co., Ltd (China), Nokia (Finland), Advantech Co., Ltd (Taiwan), Sangoma Technologies (Canada), NETXUSA, INC (U.S), InnoMedia (U.S), among others

Market Opportunities

  • Increasing need for affordable information management solutions
  • Increasing volume of unstructured data
  • Adoption of the content model within organizations

Market Definition

Cognitive collaboration is a concept that combines artificial intelligence (AI) and machine learning (ML) technologies to provide people with the support and guidance they need for increased work productivity. Cloud analytics users can gain contextual data insights into their business communications by combining natural language processing and advanced algorithms in hardware. This idea improves advanced capabilities such as facial recognition, digital assistants, noise suppression, and audio transcription.

Global Cognitive Collaboration Market Dynamics

Drivers

  • Business productivity standards

The ability of cognitive collaboration to increase business productivity standards has increased demand for it, acting as a major driving factor in its significant market growth. The implementation of cognitive collaboration tools assists organizations in optimising their profits by reducing workflow pressure and promoting improved collaboration among teams to manage data more effectively. Cognitive collaboration tools provide up-to-date as well as easy access to content, documents, and data, allowing organizational teams to leverage information more effectively during routine tasks and reduce the effects of delayed work processes. Furthermore, such content collaboration tools aid in the creation of more effective tracking of events, logs, and many others, resulting in a higher rate of transparency and accountability among employees, thereby increasing organizational productivity. Cognitive collaboration aids in business expansion and market growth by increasing the productivity standards of business processes by reducing reliance on manual processes.

  • Incorporation of advanced technologies and rapid digitalization

Rising technological advancement has been a major driving factor in the significant growth of the cognitive collaboration market. With the increasing digitalization and demand for advanced technologies such as artificial intelligence, cloud computing, and many others, various organizations have shifted heavily toward the adoption of advanced content collaboration tools to boost market growth. Organizations have been able to automate existing work processes and reduce employee workloads by combining AI with cognitive collaboration tools. Furthermore, advanced cognitive collaboration software assists in more efficiently providing features such as suggested connections, suggested posts, as well as predictive texts or images across collaboration hubs, improving employees' knowledge of the market's updated content.

Opportunity

  • Efficient management solutions

Adoption of the content model within organizations, as well as the increasing volume of unstructured data and the increasing need for affordable information management solutions, will create lucrative opportunities that will lead to the growth of the cognitive collaboration market during the forecast period.

Restraints

  • Time consuming

Time-consuming and lengthy processes, as well as increasing levels of difficulty in sharing external documents, are likely to impede the growth of the cognitive collaboration market during the forecasted period. The increasing use of file sharing within organisations and a secure perimeter will be the market's most significant and immediate challenge.

This cognitive collaboration market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cognitive collaboration market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cognitive Collaboration Market

The recent COVID-19 outbreak is expected to increase the use of collaboration tools. As a result of the lockdown, many organisations are encouraging the use of collaboration tools, as employees tend to work from home during the crisis. Microsoft Teams, a team collaboration software from Microsoft, has seen a 40% increase in demand as businesses adjust to remote work. Microsoft introduced new Teams features aimed primarily at improving remote meetings, which are increasingly becoming the norm rather than the exception prior to the pandemic. Furthermore, from March 11 to March 18, 2020, the platform added 12 million new users to its service on a daily basis. Due to the increased use of remote work policies and reliance on the desktop virtualization environment, the growing emphasis on digitalization for improving remote access and strengthening the enterprise mobility framework will drive market growth post-COVID-19.

Recent Development

  • In February 2020 Egnyte announced the launch of its next generation content services platform to provide an efficient approach to content governance, compliance, privacy, and workflow automation for growing digital businesses. This newly developed platform uses AI and machine learning technologies to give organizations unprecedented visibility and control over their content assets. Furthermore, this solution facilitates collaboration with colleagues and business partners through content-rich workflows and faster access to large files from remote locations, fuelling enterprise profit and growth.
  • In June 2020, AX Semantics announced a new line of HIPAA-compliant content generation software for the pharmaceutical industry. This software will assist pharmaceutical companies in the creation of regulatory clinical reports.

Global Cognitive Collaboration Market Scope

The cognitive collaboration market is segmented on the basis of component, organization size, deployment mode, application area, and vertical. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component 

  • Solution
  • Enterprise video
  • Unified messaging and synchronization
  • Project management
  • Enterprise social network
  • Others
  • Services
  • Professional services
  • Managed services

Organization size

  • Small and medium enterprise
  • Large enterprise

Deployment

  • Cloud
  • On premise

Application area

  • Data Analytics
  • Facial Recognition
  • Social Media Assistance

Industry

Cognitive Collaboration Market Regional Analysis/Insights

The cognitive collaboration market is analysed and market size insights and trends are provided by country, component, organization size, deployment mode, application area, and vertical as referenced above.

The countries covered in the cognitive collaboration market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

In the global cognitive collaboration market, North America held the largest market share. Large-scale investments in the implementation of cognitive collaboration solutions due to the increase in e-commerce applications and the need for better control and visibility mechanisms are factors boosting market growth.

Asia-Pacific is expected to grow at the fastest CAGR during the forecast period due to the growing need to implement security and accessibility controls and improved decision making. Partnerships, new product launches, and acquisitions are the primary strategies used by industry leaders to diversify their global footprints.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cognitive Collaboration Market Share Analysis

The cognitive collaboration market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cognitive collaboration market.

Some of the major players operating in the cognitive collaboration market are:

  • Ribbon Communications Operating Company, Inc. (U.S.)
  • AudioCodes Ltd. (Israel)
  • ADTRAN (U.S.)
  • Avaya Inc. (U.S.)
  • Cisco Systems, Inc. (U.S.)
  • GENBAND, Inc. (U.S.)
  • Ingate Systems AB (Sweden)
  • Oracle (U.S.)
  • Patton Electronics Co. (U.S.)
  • Anixter Inc. (U.S.)
  • Huawei Technologies Co., Ltd (China)
  • Nokia (Finland)
  • Advantech Co., Ltd (Taiwan)
  • Sangoma Technologies (Canada)
  • NETXUSA, INC (U.S.)
  • InnoMedia (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Cognitive Collaboration Market value is expected USD 36.81 billion by 2029.
The Cognitive Collaboration Market is to grow at a CAGR of 18.20% during the forecast by 2029.
The major players operating in the Cognitive Collaboration Market are Ribbon Communications Operating Company, Inc. (U.S), AudioCodes Ltd. (Israel), ADTRAN (U.S), Avaya Inc. (U.S), Cisco Systems, Inc. (U.S), GENBAND, Inc. (U.S), Ingate Systems AB (Sweden), Oracle (U.S), Patton Electronics Co. (U.S), Anixter Inc. (U.S), Huawei Technologies Co., Ltd (China), Nokia (Finland), Advantech Co., Ltd (Taiwan), Sangoma Technologies (Canada), NETXUSA, INC (U.S), InnoMedia (U.S), among others.
The major countries covered in the Cognitive Collaboration Market are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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